Bitcoin miner GoMining launches GoBTC payment protocol, challenging Visa and Mastercard with a 0.2% merchant fee

According to ChainCatcher and a Forbes report, Bitcoin mining company GoMining plans to launch the GoBTC Bitcoin-native payment protocol, based on its own block production, at the Consensus conference.

This protocol enables users to authorize payments instantly and settles them on the Bitcoin mainnet within a few hours. It charges merchants a 0.2% fee, which is an order of magnitude lower than the 1.5% to 3.5% rates of Visa and Mastercard.